According to the statistics of the State Administration of Foreign Exchange (SAFE), by the end of September 2023, China’s foreign exchange reserves registered USD 3115.1 billion, down by USD 45 billion, or 1.42%, from the end of August.

In September 2023, influenced by the monetary policies and expectations of major economies, global macroeconomic data, and other factors, the US dollar index rose, and the prices of global financial assets declined in general. China’s foreign exchange reserves declined this month due to the combined effects of currency translation and asset price changes. China’s economy is on a path of recovery and exhibits promising progress, especially in terms of high-quality development. This favorable trend contributes to maintaining the essential stability of foreign exchange reserves.